Limited-time offer
Limited-time offer
Try source-to-contract and receive a free benchmarking report for your electronic component prices!
Try source-to-contract and receive a free benchmarking report for your electronic component prices!
Try source-to-contract and receive a free benchmarking report for your electronic component prices!
At electronica 2024, we are launching our new source-to-contract add-on. From aggregating demand, choosing suppliers, setting target prices, sending and tracking multiple rounds of quote requests to analysing savings across different award strategies, our new add-on streamlines the end-to-end process of negotiating electronic components.
To celebrate the launch and equip our customers with the most effective target prices for their next negotiation, we are offering free benchmarking to the first 100 companies to sign up. Act now to secure your spot!
To celebrate the launch and equip our customers with the most effective target prices for their next negotiation, we are offering free benchmarking to the first 100 companies to sign up. Act now to secure your spot!
To celebrate the launch and equip our customers with the most effective target prices for their next negotiation, we are offering free benchmarking to the first 100 companies to sign up. Act now to secure your spot!
*Offer ends Dec 31st, 2024. Only valid for the first 100 customers to participate. Valid both for new and existing customers.
Sign up now
Frequently Asked Questions
Everything you need to know about benchmarking.
Why benchmark your component prices?
Different to the price of a PCBA, the price of electronic components has little to do with a bottom-up cost calculation. At times, it can feel arbitrary. Other companies might be paying up to 80% less than you are. Knowing where you stand with your prices versus where you should stand is crucial to identifying your components with the largest savings potential.
Why benchmark your component prices?
Different to the price of a PCBA, the price of electronic components has little to do with a bottom-up cost calculation. At times, it can feel arbitrary. Other companies might be paying up to 80% less than you are. Knowing where you stand with your prices versus where you should stand is crucial to identifying your components with the largest savings potential.
Why benchmark your component prices?
Different to the price of a PCBA, the price of electronic components has little to do with a bottom-up cost calculation. At times, it can feel arbitrary. Other companies might be paying up to 80% less than you are. Knowing where you stand with your prices versus where you should stand is crucial to identifying your components with the largest savings potential.
How do I participate?
Sign up to express your interest: just fill out the linked form.
Get a personalized demo: we will reach out to schedule a meeting with our experts to allow you to learn more about our new source-to-contract module and how you can use the benchmarked target prices in your next negotiation.
Submit your prices: all we need is MPN, manufacturer, unit price, estimated annual usage and optionally your own internal part number.
Get your results: once the free benchmarking offers ends, we will finalize the statistical analysis and send a personalized benchmarking report to all participating companies.
How do I participate?
Sign up to express your interest: just fill out the linked form.
Get a personalized demo: we will reach out to schedule a meeting with our experts to allow you to learn more about our new source-to-contract module and how you can use the benchmarked target prices in your next negotiation.
Submit your prices: all we need is MPN, manufacturer, unit price, estimated annual usage and optionally your own internal part number.
Get your results: once the free benchmarking offers ends, we will finalize the statistical analysis and send a personalized benchmarking report to all participating companies.
How do I participate?
Sign up to express your interest: just fill out the linked form.
Get a personalized demo: we will reach out to schedule a meeting with our experts to allow you to learn more about our new source-to-contract module and how you can use the benchmarked target prices in your next negotiation.
Submit your prices: all we need is MPN, manufacturer, unit price, estimated annual usage and optionally your own internal part number.
Get your results: once the free benchmarking offers ends, we will finalize the statistical analysis and send a personalized benchmarking report to all participating companies.
How does it work?
From total spend, payment & shipping terms and number of part alternatives to reputation and future growth potential of the customer: there are countless factors that make one company’s price different from another. Just telling you hey, there are some companies with a better price than yours wouldn’t be a useful benchmark.
You’d have no way of knowing who you’re comparing yourself against and whether those better prices are achievable for you.
The solution: for each component price you submit you will receive a ranking and a target price tailored specifically to your company’s competitiveness (that is based on the average of your company’s price rankings as a whole).
The ranking: For this resistor your price of 10 cents is ranked in the 40th percentile (your price is better than 40% of the benchmarked prices for this resistor).
The target price: Your company’s average ranking is in the 70th percentile (on average, your company’s prices are better than 70% of the prices). We’d expect you to also achieve the 70th percentile price for this specific resistor, so the target price for this specific resistor, tailored to your company’s competitiveness, is 7.8 cents.
By summarizing your company's price competitiveness in an average ranking and combining that ranking with a statistical model of the price distribution of any given component (based on the collected prices from different customers) we can predict a specific target price, just for you.
Comparing the predicted target prices to your current prices can help you spot outliers and focus on the component’s with the largest savings potential in your next negotiation.
To guarantee validity and accuracy of the benchmark, we
clean MPNs (spelling corrections, wildcards), manufacturer names & aliases and assign categories
run an algorithm to identify and exclude erroneous outlier prices
only include prices associated with an actual purchase. No quoted or list prices.
only include prices collected within the last 3 months
How does it work?
From total spend, payment & shipping terms and number of part alternatives to reputation and future growth potential of the customer: there are countless factors that make one company’s price different from another. Just telling you hey, there are some companies with a better price than yours wouldn’t be a useful benchmark.
You’d have no way of knowing who you’re comparing yourself against and whether those better prices are achievable for you.
The solution: for each component price you submit you will receive a ranking and a target price tailored specifically to your company’s competitiveness (that is based on the average of your company’s price rankings as a whole).
The ranking: For this resistor your price of 10 cents is ranked in the 40th percentile (your price is better than 40% of the benchmarked prices for this resistor).
The target price: Your company’s average ranking is in the 70th percentile (on average, your company’s prices are better than 70% of the prices). We’d expect you to also achieve the 70th percentile price for this specific resistor, so the target price for this specific resistor, tailored to your company’s competitiveness, is 7.8 cents.
By summarizing your company's price competitiveness in an average ranking and combining that ranking with a statistical model of the price distribution of any given component (based on the collected prices from different customers) we can predict a specific target price, just for you.
Comparing the predicted target prices to your current prices can help you spot outliers and focus on the component’s with the largest savings potential in your next negotiation.
To guarantee validity and accuracy of the benchmark, we
clean MPNs (spelling corrections, wildcards), manufacturer names & aliases and assign categories
run an algorithm to identify and exclude erroneous outlier prices
only include prices associated with an actual purchase. No quoted or list prices.
only include prices collected within the last 3 months
How does it work?
From total spend, payment & shipping terms and number of part alternatives to reputation and future growth potential of the customer: there are countless factors that make one company’s price different from another. Just telling you hey, there are some companies with a better price than yours wouldn’t be a useful benchmark.
You’d have no way of knowing who you’re comparing yourself against and whether those better prices are achievable for you.
The solution: for each component price you submit you will receive a ranking and a target price tailored specifically to your company’s competitiveness (that is based on the average of your company’s price rankings as a whole).
The ranking: For this resistor your price of 10 cents is ranked in the 40th percentile (your price is better than 40% of the benchmarked prices for this resistor).
The target price: Your company’s average ranking is in the 70th percentile (on average, your company’s prices are better than 70% of the prices). We’d expect you to also achieve the 70th percentile price for this specific resistor, so the target price for this specific resistor, tailored to your company’s competitiveness, is 7.8 cents.
By summarizing your company's price competitiveness in an average ranking and combining that ranking with a statistical model of the price distribution of any given component (based on the collected prices from different customers) we can predict a specific target price, just for you.
Comparing the predicted target prices to your current prices can help you spot outliers and focus on the component’s with the largest savings potential in your next negotiation.
To guarantee validity and accuracy of the benchmark, we
clean MPNs (spelling corrections, wildcards), manufacturer names & aliases and assign categories
run an algorithm to identify and exclude erroneous outlier prices
only include prices associated with an actual purchase. No quoted or list prices.
only include prices collected within the last 3 months
Is my data secure with Luminovo?
Ensuring the confidentiality of the data you entrust to us is our highest priority. We are ISO 27001 certified and encrypt all data in-transit and at-rest, hosted with Microsoft Azure in Frankfurt, Germany. To learn more about our InfoSec policies, click here.
Note, that participating in the benchmark is fully opt-in. No prices (or any other data) of any of our customers is included in our reference database for benchmarking unless they explicitly opt in.
Is my data secure with Luminovo?
Ensuring the confidentiality of the data you entrust to us is our highest priority. We are ISO 27001 certified and encrypt all data in-transit and at-rest, hosted with Microsoft Azure in Frankfurt, Germany. To learn more about our InfoSec policies, click here.
Note, that participating in the benchmark is fully opt-in. No prices (or any other data) of any of our customers is included in our reference database for benchmarking unless they explicitly opt in.
Is my data secure with Luminovo?
Ensuring the confidentiality of the data you entrust to us is our highest priority. We are ISO 27001 certified and encrypt all data in-transit and at-rest, hosted with Microsoft Azure in Frankfurt, Germany. To learn more about our InfoSec policies, click here.
Note, that participating in the benchmark is fully opt-in. No prices (or any other data) of any of our customers is included in our reference database for benchmarking unless they explicitly opt in.
How do you ensure prices stay anonymous?
All customer-submitted prices are kept strictly confidential and only used in aggregate form. We never reveal what customers participate in the benchmark nor which suppliers any of the submitted prices are from. We also do not have any suppliers participating in the benchmark.
Note, that we also only return benchmark results for components with enough prices to guarantee anonymity and provide statistically significant results. That means if you submit a price for a rarely used component and we do not have enough other datapoints to model that component’s price distribution, we will not include this component in the benchmark (neither for you, nor others).
How do you ensure prices stay anonymous?
All customer-submitted prices are kept strictly confidential and only used in aggregate form. We never reveal what customers participate in the benchmark nor which suppliers any of the submitted prices are from. We also do not have any suppliers participating in the benchmark.
Note, that we also only return benchmark results for components with enough prices to guarantee anonymity and provide statistically significant results. That means if you submit a price for a rarely used component and we do not have enough other datapoints to model that component’s price distribution, we will not include this component in the benchmark (neither for you, nor others).
How do you ensure prices stay anonymous?
All customer-submitted prices are kept strictly confidential and only used in aggregate form. We never reveal what customers participate in the benchmark nor which suppliers any of the submitted prices are from. We also do not have any suppliers participating in the benchmark.
Note, that we also only return benchmark results for components with enough prices to guarantee anonymity and provide statistically significant results. That means if you submit a price for a rarely used component and we do not have enough other datapoints to model that component’s price distribution, we will not include this component in the benchmark (neither for you, nor others).
Ready to see where you stand?
Sign up today, try our new source-to-contract add-on and get your free benchmarking report.
Ready to see where you stand?
Sign up today, try our new source-to-contract add-on and get your free benchmarking report.
Ready to see where you stand?
Sign up today, try our new source-to-contract add-on and get your free benchmarking report.
Sign up for the offer and receive the free benchmarking report
Sign up for the offer and receive the free benchmarking report
Sign up for the offer and receive the free benchmarking report
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